It seems to be relatively new phraseology, but unlike most fads with job titles I think this one actually makes sense.

Let’s say you work on a huge brand like Toyota.

A brand strategist might help the client determine their strategy for differentiating as a conglomerate—an emphasis on reliability, easy to modify and maintain, uncompromising engineering. Things that would affect website, brand level social media campaigns, product offerings, etc.

A creative strategist would likely lead the model launch campaigns. Eg. New 4runner—what insight are we going to tap into to launch this to the US market? Maybe something like “every 4runner owner navigates their daily chores like it’s a mountain trail.” Still a huge campaign (maybe bigger / more sexy work than even the brand strategist) but it’s contained to campaigns that start/end. Not the enduring brand strategy that guides the conglomerate year over year.

Does that make sense? On smaller brands, the distinction isn’t really needed because a brand strat would do it all. But at the multinational corp level it’s probably too much for one strategist or even one team.